Cyber Digital, Inc. Details $79.6 Million Contract Awards and Firm Commitments.Business Editors NEW YORK--(BUSINESS WIRE)--June 4, 2002 Cyber Digital, Inc. Cyber Digital to Sell 43,500 Lines of its Wireless and Fiber Optic Telephone Exchanges to Nigeria Cyber Digital, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYBD), a leading manufacturer and software developer of wireless and landline digital voice and Internet systems, announced today the details of its $79.6 million contract awards and firm commitments to supply 43,500 lines of Cyber Digital's wireless and fiber optic telephone exchanges to various entities in Nigeria. Cyber Digital has received the following contract awards and commitments from three types of customers namely, federal government, local state governments and a private telephone operator:
$26 million contract award from NITEL, a federal government
entity. This project is expected to commence and complete in
calendar year 2003. Payments terms are 15% cash-in-advance
and 85% paid through an irrevocable letter of credit.
$42 million firm commitments from three state run telephone
operating companies. Consulting services for these
commitments commenced in calendar year 2001. These projects
are expected to be completed in calendar year 2003. Payments
terms are 50% cash-in-advance and 50% paid through an
irrevocable letter of credit.
$11.6 million contract award from 2 Systems Technologies,
Ltd., a private telephone operator. This project is expected
to commence in calendar year 2002 with completion in 2003.
Payment terms are $1.6 million cash-in-advance and $10
million paid through an irrevocable letter of credit from the
U.S. EXIM Bank.
A significant portion of cash-in-advance payments are for consulting services such as initial feasibility studies, network planning, site surveys, engineering etc. During the last twelve months Cyber Digital has provided such consulting services to the three state run telephone operating companies Please help Wikipedia by organising, removing or transferring them to other articles. FYE First Year Experience FYE Fiscal Year End FYE Funding Your Education FYE For Your Eyes (CSD-TV magazine) FYE For Your Enjoyment FYE Full Year Effect FYE First Year Enrichment FYE For Your Edification 2002 Cyber Digital expects to earn $0.31 per share from such services rendered to these three state run entities. Please visit www.cyberdigitalinc.com for a detailed analyst report from Investrend Research. About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switching systems Switching systems (communications) The assemblies of switching and control devices provided so that any station in a communications system may be connected as desired with any other station. for network operators worldwide. Cyber Digital is also a leading developer and provider of an array of ultra-high performance Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) infrastructure software and systems such as routers, gateways, firewalls and servers for next-generation local-loop digital broadband and virtual private network (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ) applications. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially. The risks and uncertainties are detailed from time to time in Cyber Digital's SEC reports and filings. Additional information may be obtained by sending email to cybd@cyberdigitalinc.com, or visiting www.cyberdigitalinc.com. |
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